HITI - High Tide Reports $34.5M Cash Position Sells 1400 Shares In Q2 Expands Cannabis Footprint | Benzinga
High Tide Inc. (NASDAQ: HITI) indicators, particularly the sustained positive free cash flow and improvement in net income, suggest a financial recovery and enhanced investment appeal, signaling potential value for investors. High Tide reported $9.4 million in free cash flow for the second fiscal quarter 2024.
The trailing free cash flow yield relative to the company's enterprise value exceeded 8%. Net income for the quarter was $0.2 million, marking a significant improvement from a $1.6 million loss year-over-year.
This means that the company is generating a high cash rate compared to its overall market value.
Revenue And Profitability
Revenue for the quarter increased by 5% to $124.3 million, with gross profit reaching $35.3 million, a 12% increase from the previous year.
Adjusted EBITDA for the quarter was $10 million, representing a 52% increase year-over-year. The adjusted EBITDA margin was consistent sequentially at 8.1%.
"Our team has delivered positive net income ...